[Special Stock] NVH Korea Raises 4 Trillion Won from Hyundai Motor India Subsidiary IPO... Spotlight on Joint Venture Companies Increases
NVH Korea is showing strong performance. It is interpreted that NVH Korea, a parts company that entered the market alongside Hyundai Motor, has been affected by the news that Hyundai Motor is planning to raise funds worth 4 trillion won by listing its Indian subsidiary locally.
As of 10:27 AM on the 6th, NVH Korea is trading at 2,810 won, up 7.66% compared to the previous day.
According to foreign media, Hyundai Motor's Indian subsidiary is conducting initial negotiations to pursue an IPO (Initial Public Offering) in India by the end of this year. Hyundai Motor is reportedly planning to raise about 3 billion dollars (approximately 4 trillion won) by listing part of its shares after being valued at 25 to 30 billion dollars (approximately 33 to 40 trillion won).
Since Hyundai Motor and Kia entered the Indian market, the cumulative number of vehicles sold over the past 25 years has exceeded 9 million units. This year, the combined sales target for the two companies is 893,000 units, a 4% increase from the previous year (860,000 units). The Indian market is rapidly growing, recently surpassing Japan to become the world's third-largest automobile market.
Im Eun-young, a researcher at Samsung Securities, analyzed, "Hyundai Motor will utilize the high valuation premium of the Indian market to secure investment funds for future vehicles and strengthen shareholder return policies," adding, "The value of parts manufacturers' factories in India will also be highlighted accordingly."
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Meanwhile, NVH Korea is a company engaged in the manufacturing and sales of automotive parts. Its main products include headliners, NVH parts, and floor carpets. The sales distribution is 66% in Korea, 14% in India, and 11% in the United States. Most of its products are supplied to Hyundai Motor and Kia. NVH Korea is also a parts company that entered India alongside Hyundai Motor.
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